For more than 100 years the average Australian family was able to buy its first home on one wage.The median house price was around three times the median income allowing young home buyers easy entry into the housing market. Relative to incomes, house prices have increased from three times median income to more than nine times income. That’s $600,000 they are not able to spend on other things - clothes, cars, furniture, appliances, travel, movies, restaurants, the theatre, children’s education, charities and many other discretionary purchase options.
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